Locked Quantities definition

Locked Quantities means quantities of gas to be sold by Seller and purchased by Buyer during any month during the term hereof, as to which a Locked Price has been established.
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Examples of Locked Quantities in a sentence

  • If Buyer elects to establish a Locked Price for less than all of the gas to be delivered in any applicable month, and/or if Buyer and Seller have established more than one Locked Price for different Locked Quantities, the first gas delivered during said month shall be the first Locked Quantities established, followed by any additional Locked Quantities in the order they were established, followed by any Unlocked Quantities of gas.

  • Seller at its option may include all Locked Prices and Locked Quantities in one Price Lock Confirmation for any applicable month.

  • If Buyer opts for such a Locked Price and the Commodity Charge otherwise payable is based in part upon a published index, or other base amount, plus a monetary adjustment, the Locked Price so established shall replace the index or base amount as to Locked Quantities affected by such Locked Price, but the monetary adjustment shall still be applied to such Locked Quantities.

  • Once a Locked Price has been established for a delivery month hereunder, the Locked Price shall be irrevocable as to the affected Locked Quantities, and shall not thereafter be subject to change.

  • Additionally, for any month as to which a Locked Price has been established, Buyer shall be obligated to nominate and take a quantity of gas not less than the Locked Quantities then in effect.